Zambia not stable, fear French investors

French investors who visited Zambia this week say the country looks very unstable and risky.

On Monday French Ambassador to Zambia Emmanuel Cohet took French potential investors to the Ministry of National Development Planning to check investment opportunities.

Permanent Secretary Chola Chabala explained some of the investment opportunities which the current regime say it has prioritised.

But the investors who were more concerned and fearful of the political stability of the country were dissatisfied by the responses given by the ministry.

One of the investors later told the Watchdog that he was not persuaded by assurances by the PS that Zambia is stable politically.

The investor feared that injecting money in Zambia right now is very risky as the country seems to be on the brink of a political upheaval if not civil unrest. The investor said that all the investors in the group agreed that the situating in Zambia is volatile.

The investor said that he and his colleagues are worried by what they had been reading in both local and international media about dictatorship in Zambia and fear that investing in such a country at such a time is not wise.

International Credit rating agency Moody’s on Monday warned that the detention of opposition leader Hakainde Hichilema, suspension of opposition MPs and closure of independent media among other tyranny activists have eroded investor confidence in Zambia.